Financials · financial year 2025, micro format
Annual accounts 2025 filed on 28-01-2026 PDF all 15 filings
Equity
€175,369▲ 50.6%
2024 · €116,456
Net result
€74,002▲ 142%
2024 · €30,615
Total assets
€836,652▲ 12.7%
2024 · €742,427
Solvency
21.0%▲ 5.3pp
2024 · 15.7%
In the rankings
#10 oldest company in Lichtervelde, Finance and insurance sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€132,745
▲ 75.0%
2025
20192025
Net result
€74,002
▲ 142%
2025
middle half of the sector
20192025
Equity
€175,369
▲ 50.6%
2025
middle half of the sector
20192025
Total assets
€836,652
▲ 12.7%
2025
middle half of the sector
20192025
Debt
€661,283
▲ 5.6%
2025
20192025
Working capital
€38,364
2025
middle half of the sector
20192025
Solvency
21.0%
▲ 5.3pp
2025
middle half of the sector
20192025
Current ratio
1.19
▲ 0.23
2025
middle half of the sector
20192025
Return on assets (ROA)
8.8%
▲ 4.7pp
2025
middle half of the sector
20192025
Staff (FTE)
0.6
▲ 20.0%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€3,352-€21,204▲ 533%€23,004▲ 8.5%€56,677▲ 146%€46,426▼ 18.1%€75,872▲ 63.4%€132,745▲ 75.0%
Net result€604-€8,965within the sector's middle half▲ 15×€1,533below the sector's middle half▼ 82.9%€26,660within the sector's middle half▲ 17×€15,150within the sector's middle half▼ 43.2%€30,615within the sector's middle half▲ 102%€74,002within the sector's middle half▲ 142%
Equity€33,534-€42,499within the sector's middle half▲ 26.7%€44,031within the sector's middle half▲ 3.6%€70,692within the sector's middle half▲ 60.5%€85,841within the sector's middle half▲ 21.4%€116,456within the sector's middle half▲ 35.7%€175,369within the sector's middle half▲ 50.6%
Total assets€517,633-€505,106within the sector's middle half▼ 2.4%€642,201within the sector's middle half▲ 27.1%€661,375within the sector's middle half▲ 3.0%€864,031within the sector's middle half▲ 30.6%€742,427within the sector's middle half▼ 14.1%€836,652within the sector's middle half▲ 12.7%
Debt€484,099-€462,607▼ 4.4%€598,170▲ 29.3%€590,683▼ 1.3%€778,190▲ 31.7%€625,971▼ 19.6%€661,283▲ 5.6%
Working capital€15,047-€16,126within the sector's middle half▲ 7.2%-€9,146within the sector's middle half-€39,533below the sector's middle half▼ 332%€31,776within the sector's middle half-€7,503within the sector's middle half€38,364within the sector's middle half
Solvency6.5%-8.4%below the sector's middle half▲ 1.9pp6.9%below the sector's middle half▼ 1.6pp10.7%below the sector's middle half▲ 3.8pp9.9%below the sector's middle half▼ 0.8pp15.7%below the sector's middle half▲ 5.8pp21.0%within the sector's middle half▲ 5.3pp
Current ratio1.07-1.08within the sector's middle half▲ 0.010.96within the sector's middle half▼ 0.130.83within the sector's middle half▼ 0.131.11within the sector's middle half▲ 0.270.96within the sector's middle half▼ 0.151.19within the sector's middle half▲ 0.23
Return on assets (ROA)0.1%-1.8%within the sector's middle half▲ 1.7pp0.2%below the sector's middle half▼ 1.5pp4.0%within the sector's middle half▲ 3.8pp1.8%within the sector's middle half▼ 2.3pp4.1%within the sector's middle half▲ 2.4pp8.8%within the sector's middle half▲ 4.7pp
Staff (FTE)1.5-1.5within the sector's middle half=1.2▼ 20.0%1.3▲ 8.3%0.4▼ 69.2%0.5▲ 25.0%0.6▲ 20.0%
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 75% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €836,652
Fixed assets
€597,885 ▲ 4.2%
Current assets
€238,767 ▲ 41.8%
Equity and liabilities €836,652
Equity
€175,369 ▲ 50.6%
Debt
€661,283 ▲ 5.6%
Debt's share of the balance-sheet total falls from 84.3% to 79.0%. Equity and debt are higher.
Key figures and ratios
ROE
42.2%▲
2024 · 26.3%
Debt ≤ 1 year
€200,403▲
2024 · €175,929
Debt > 1 year
€391,452▼
2024 · €449,898
Income taxes
€43,405▲
2024 · €25,552
Staff costs
€30,484▲
2024 · €18,255
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| full-time | 1 | 0 | 1 | 1 |
| part-time | 0 | 1 | 0 | 0 |
| in full-time equivalents | 1 | 0.5 | 1 | 1 |
| Average over the year, in full-time equivalents | 1.3 | 0.4 | 0.5 | 0.6 |
| On a permanent contract | 1 | - | 1 | 1 |
| Joined | 9 | 8 | 4 | 6 |
| Left | 9 | 8 | 3 | 6 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Mortgages, amount registered | €263,500 | €263,500 | €263,500 | €263,500 |
| Carrying value of the mortgaged assets | €202,631 | €182,878 | €184,067 | €148,405 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €80,454 | €137,242 | €173,625 | €112,623 |
| Depreciation and write-downs of the year | €50,124 | €62,798 | €73,558 | €88,739 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €120 awarded · €120 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €39,516 | €15,682 | €18,255 | €30,484 | ▲ 67.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €46,273 | €57,247 | €34,453 | €50,124 | €62,798 | €73,558 | €88,739 | ▲ 20.6% |
| Other operating charges640/8 | - | - | - | €3,263 | €2,840 | €8,884 | €3,757 | ▼ 57.7% |
| Gross operating margin9900 | €76,123 | €124,395 | €109,808 | €149,580 | €127,745 | €176,568 | €255,724 | ▲ 44.8% |
| Operating profit (loss)9901 | €3,352 | €21,204 | €23,004 | €56,677 | €46,426 | €75,872 | €132,745 | ▲ 75.0% |
| Financial income75/76B | - | - | - | €145 | €1,775 | €3,066 | €4,809 | ▲ 56.8% |
| Recurring financial income75 | €5,149 | €1,917 | €503 | €145 | €1,775 | €3,066 | €4,809 | ▲ 56.8% |
| Financial charges65/66B | - | - | - | €9,995 | €13,497 | €22,771 | €20,147 | ▼ 11.5% |
| Recurring financial charges65 | €4,477 | €6,378 | €11,543 | €9,995 | €13,497 | €22,771 | €20,147 | ▼ 11.5% |
| Profit (loss) for the period before taxes9903 | €7,189 | €16,743 | €11,964 | €46,827 | €34,704 | €56,167 | €117,407 | ▲ 109% |
| Income taxes67/77 | €6,585 | €7,778 | €10,431 | €20,167 | €19,555 | €25,552 | €43,405 | ▲ 69.9% |
| Profit (loss) for the period9904 | €604 | €8,965 | €1,533 | €26,660 | €15,150 | €30,615 | €74,002 | ▲ 142% |
| Profit (loss) for the period to be appropriated9905 | €604 | €8,965 | €1,533 | €26,660 | €15,150 | €30,615 | €74,002 | ▲ 142% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €517,633 | €505,106 | €642,201 | €661,375 | €864,031 | €742,427 | €836,652 | ▲ 12.7% |
| Fixed assets21/28 | €299,013 | €298,601 | €434,607 | €464,937 | €530,286 | €574,001 | €597,885 | ▲ 4.2% |
| Intangible fixed assets21 | €720 | €540 | €360 | €180 | €0 | - | - | - |
| Tangible fixed assets22/27 | €294,593 | €294,361 | €430,547 | €461,057 | €526,586 | €570,301 | €594,185 | ▲ 4.2% |
| Land and buildings22 | - | - | - | €361,282 | €336,446 | €316,076 | €291,807 | ▼ 7.7% |
| Plant, machinery and equipment23 | - | - | - | €1,264 | €965 | €2,912 | €2,385 | ▼ 18.1% |
| Furniture and vehicles24 | - | - | - | €87,942 | €180,761 | €245,942 | €295,545 | ▲ 20.2% |
| Other tangible fixed assets26 | - | - | - | €10,569 | €8,415 | €5,370 | €4,448 | ▼ 17.2% |
| Financial fixed assets28 | €3,700 | €3,700 | €3,700 | €3,700 | €3,700 | €3,700 | €3,700 | = |
| Current assets29/58 | €218,619 | €206,505 | €207,594 | €196,438 | €333,745 | €168,426 | €238,767 | ▲ 41.8% |
| Amounts receivable after more than one year29 | - | - | - | €22,386 | €22,386 | €22,386 | €22,386 | = |
| Other amounts receivable291 | - | - | - | €22,386 | €22,386 | €22,386 | €22,386 | = |
| Stocks and contracts in progress3 | €32,922 | €42,779 | €29,784 | €52,059 | €2,395 | €0 | - | - |
| Stocks30/36 | - | - | - | €52,059 | €2,395 | €0 | - | - |
| Amounts receivable within one year40/41 | €120,871 | €102,077 | €73,744 | €55,715 | €188,689 | €81,257 | €122,858 | ▲ 51.2% |
| Trade receivables40 | - | - | - | €46,383 | €159,404 | €16,842 | €24,394 | ▲ 44.8% |
| Other amounts receivable41 | - | - | - | €9,332 | €29,285 | €64,415 | €98,465 | ▲ 52.9% |
| Cash at bank and in hand54/58 | €60,623 | €58,122 | €103,975 | €64,703 | €118,425 | €63,257 | €87,850 | ▲ 38.9% |
| Deferred charges and accrued income490/1 | - | - | - | €1,575 | €1,850 | €1,526 | €5,673 | ▲ 272% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €517,633 | €505,106 | €642,201 | €661,375 | €864,031 | €742,427 | €836,652 | ▲ 12.7% |
| Equity10/15 | €33,534 | €42,499 | €44,031 | €70,692 | €85,841 | €116,456 | €175,369 | ▲ 50.6% |
| Contributions10/11 | €12,400 | - | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €21,134 | €30,099 | €31,631 | €58,292 | €73,441 | €104,056 | €162,969 | ▲ 56.6% |
| Non-distributable reserves130/1 | - | - | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €3,580 | €3,580 | €3,580 | €3,580 | = |
| Distributable reserves133 | - | - | - | €54,712 | €69,861 | €100,476 | €159,389 | ▲ 58.6% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | €0 | - |
| Amounts payable17/49 | €484,099 | €462,607 | €598,170 | €590,683 | €778,190 | €625,971 | €661,283 | ▲ 5.6% |
| Amounts payable after more than one year17 | €258,318 | €264,766 | €369,130 | €354,464 | €474,056 | €449,898 | €391,452 | ▼ 13.0% |
| Financial debts170/4 | - | - | - | €354,464 | €474,056 | €449,898 | €391,452 | ▼ 13.0% |
| Amounts payable within one year42/48 | €203,572 | €190,379 | €216,741 | €235,971 | €301,969 | €175,929 | €200,403 | ▲ 13.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €63,317 | €62,369 | €95,929 | €97,221 | ▲ 1.3% |
| Financial debts43 | - | - | - | €75,000 | - | - | €18,377 | - |
| Credit institutions430/8 | - | - | - | €75,000 | - | - | €18,377 | - |
| Trade debts44 | €41,774 | €28,373 | €27,470 | €42,069 | €174,547 | €22,464 | €31,936 | ▲ 42.2% |
| Suppliers440/4 | - | - | - | €42,069 | €174,547 | €22,464 | €31,936 | ▲ 42.2% |
| Taxes, remuneration and social security45 | - | - | - | €55,586 | €65,053 | €52,043 | €51,359 | ▼ 1.3% |
| Taxes450/3 | - | - | - | €44,610 | €60,446 | €47,220 | €47,949 | ▲ 1.5% |
| Remuneration and social security454/9 | - | - | - | €10,976 | €4,607 | €4,823 | €3,410 | ▼ 29.3% |
| Other amounts payable47/48 | - | - | - | €0 | - | €5,494 | €1,510 | ▼ 72.5% |
| Accrued charges and deferred income492/3 | - | - | - | €248 | €2,165 | €144 | €69,428 | ▲ 482× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €604 | €8,965 | €1,533 | €26,660 | €15,150 | €30,615 | €74,002 | ▲ 142% |
| + Depreciation and write-downs630 | €46,273 | €57,247 | €34,453 | €50,124 | €62,798 | €73,558 | €88,739 | ▲ 20.6% |
| Operating cash flow (approximation) | €46,877 | €66,212 | €35,986 | €76,784 | €77,948 | €104,173 | €162,741 | ▲ 56.2% |
| Investment in fixed assets (approximation) | - | -€56,834 | -€170,459 | -€80,454 | -€128,148 | -€117,272 | -€112,623 | ▲ 4.0% |
| Change in cash | - | -€2,501 | €45,852 | -€39,272 | €53,722 | -€55,168 | €24,593 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 28-01-2026 | 2026-00019111 | |
| 30-06-2024 | micro format | 03-02-2025 | 2025-00026780 | |
| 30-06-2023 | micro format | 31-01-2024 | 2024-00024177 | |
| 30-06-2022 | micro format | 31-01-2023 | 2023-00021120 | |
| 30-06-2021 | micro format | 02-02-2022 | 2022-04800507 | |
| 30-06-2020 | micro format | 28-01-2021 | 2021-03300518 | |
| 30-06-2019 | micro format | 31-01-2020 | 2020-03800254 | |
| 30-06-2018 | micro format | 31-01-2019 | 2019-03800206 | |
| 30-06-2017 | abbreviated format | 01-02-2018 | 2018-03200020 | |
| 30-06-2016 | abbreviated format | 19-01-2017 | 2017-01600192 |